Via Kyle Bass @ wallstreetweek.com,
[Editors Note]
Debasement of the Yuan would be extremely bullish for alternate money/currency including Bitcoin and Precious metals.
China has $22 trillion in deposits part of which could soon find its way into these assets, if debasement and capitals controls for the Yuan hits.
- “Given our views on credit contraction in Asia, and in China in particular, let’s say they are going to go through a banking loss cycle like we went through during the Great Financial Crisis, there’s one thing that is going to happen:China is going to have to dramatically devalue its currency.”